XRP has been boosted a lot this year by Ripple. The San Francisco-based company has been promoting all of its products and has been making sure to boost the adoption of the digital asset XRP as well.
New platform to add XRP
Now, the crypto trading platform called Luno is exploring the addition of XRP in Malaysia.
The company’s GM of Southeast Asia, David Low, said that XRP could debt on the exchange as early as 2020, according to the Malaysian Reserve.
He also cited Ripple’s efforts to use the coin to power cross-border remittances.
“It is definitely a possibility we are exploring. However, it is not yet listed on Luno…” Low said.
He continued and explained that “Ripple also has a remittance use case which we are excited about. That’s why we want to introduce it to Malaysians, as it allows people on the platform to access and learn about it, and figure out new
According to the reports coming from the online publication the Daily Hodl, Luno is one of three exchanges that has been approved to sell digital assets in the country.
Ripple launches a new portal for developers
Ripple created a new portal for developers.
The portal that Ripple is creating is called Xpring.io and it’s designed to provide developers a one-stop-shop in order to manage “everything they need when it comes to integrating payments into their applications and a way to unify the various platforms they already use,” according to official notes.
The platform also features a custom wallet that allows engineers to test XRP payments and also to create addresses.
This can all be achieved without having to spend fiat currency.
Other than this, in terms of pricing, Ripple and XRP fans have been hoping to see a boost in the price of the digital asset, but this failed to happen in 2019.
Ripple Says XRP and Crypto Assets Poised for Substantial Growth in This $5 Billion Industry
Ripple says cryptocurrency-based lending represents a powerful, early use case in the emerging world of digital assets.
In its latest Q4 XRP Markets report, the San Francisco-based payments company says the multi billion-dollar industry is just getting started.
“The digital asset borrowing/lending market saw substantial momentum throughout the past year as this market is now considered a $5 billion industry…
The momentum has been fueled by several factors: low interest rates in many fiat currencies, a growing number of digital asset market participants seeking working capital, and an increasing number of long-term digital asset holders looking to generate yield. While concerns over a ‘crypto credit bubble’ have started to emerge, the growth potential for this market remains substantial into th
XRP, the third-largest cryptocurrency, is now available on some of the largest crypto lending platforms including Celsius, Genesis, SALT, and Nexo, alongside Bitcoin (BTC), Ethereum (BTC), Litecoin (LTC) and other digital assets.
Ripple’s sentiment is echoed by a recent Graychain report on the crypto credit industry. The research reveals that new loans surged from 5,462 in the first quarter of 2019 to 18,562 in the second quarter – a 239% jump. Graychain says Genesis and Celsius dominate the industry with 65% of loan origination.
The nascent industry is being fueled mostly by professionals who take out crypto loans for leverage, arbitrage and tax deferment, according to Graychain.
In contrast to the traditional banking system, crypto lending is a highly automated process. Lenders use smart contracts to track payments and interest rates. This allows borrowers to avoid going through credit checks and scoring to get a loan.
Ripple (XRP/USD) forecast on January 27 — February 2, 2020
Cryptocurrency Ripple (XRP/USD) is trading at 0.2207.Cryptocurrency quotes are trading above the moving average with a period of 55. This indicates a bullish trend on Ripple. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator stripes.
Ripple (XRP/USD) forecast on January 27 — February 2, 2020
As part of the Ripple course forecast, a test level of 0.2210 is expected. Where should we expect an attempt to continue the growth of XRP/USD and the further development of the upward trend. The purpose of this movement is the area near the level of 0.2680. The conservative buying area for Ripple is located near the lower border of the Bollinger Bands indicator strip at 0.2200.
Cancellation of the
Ripple (XRP/USD) forecast on January 27 — February 2, 2020 implies a test level of 0.2210. Further, growth is expected to continue to the area above the level of 0.2680. The conservative buying area is located is near the area of 0.2200. The cancellation of the cryptocurrency growth option will be the breakdown of the level of 0.1960. In this case, we should expect continued fall.
Ripple Chief Bashes Bitcoin While XRP Tumbles Again
Ripple chief executive Brad Garlinghouse has been bashing Bitcoin again on its potential for becoming a major payments network. Meanwhile, the company’s own digital currency, XRP, has added to its losses this week.
Speaking to the Wall Sreet Journal recently, Brad Garlinghouse was not very complimentary about Bitcoin. However, the comments are par for the course coming from a company promoting its own centralized payments platform.
Ripple Bashes Bitcoin
Garlinghouse basically told the host that Bitcoin is currently no good for payments,
“I’m bullish on BTC as a store of value, but not for payments. You don’t want to use BTC at Starbucks b/c by the time you get your coffee, it’ll be cold.”
Naturally, the SVP of products at Ripple, Asheesh Birla, agreed with him.
Bitcoin maximalist Udi Wertheimer was not impressed and stated that marketing and narrative are the most important aspects of cryptocurrency. The store of value narrative for BTC was clearly evident during the escalation of geopolitical tensions earlier this month.
“If ripple doesn’t get its act
Forgetting About the Technology
What Garlinghouse fails to acknowledge is that Bitcoin is a perfectly good method of making payments if solutions such as the Lightning Network (LN) are used.
This layer-two micropayments technology was designed to open channels between users and merchants to enable rapid transfers on top of the Bitcoin network.
According to Defipulse, LN usage has grown by 275% since the same time last year in terms of total value locked in USD. In terms of BTC, it has grown 55% over the same period so people are using it.
Another solution is Liquid — a sidechain enabling rapid low-fee transfers between trusted entities such as cryptocurrency exchanges.
So, yes Brad, there are viable solutions to use Bitcoin to buy a coffee with.
There is a saying about glass houses and stones, and it may be applicable here in terms of asset performance over the past year.
In 2019 Bitcoin gained 85%, although it was not one of its best-performing years. XRP, on the other hand, was one of the worst-performing crypto assets, dumping 47% over the same period to finish at a two-year low.
Company token supply manipulation has irked investors who want more transparency from Ripple. Leading community members have even suggested hard forking the blockchain to make it more decentralized.
Today XRP is falling again with a 4.5% slide back to $0.22 at the time of publishing.